Econ70

While our debt is painfully high at slightly over 100% of GDP, now isn’t the time to start worrying about it! Give the healthcare sector whatever it needs, giving everyone $1,000 is a decent idea given the immense time crunch…

With the economic toll of Covid-19 rising sharply, the government must offer a large stimulus package to prevent a precipitous decline in aggregate demand. We must stop firms from layoffs which will deepen the falloff. A new program of 2%…

This past weekend, not only did the Fed cut rates by one full percentage point, but it also began flooding financial markets in general, and Treasury and mortgage-backed securities markets in particular, with cash so they function smoothly. They’re also…

The Friday File: The world’s first St. Patrick’s Day parade (sadly postponed this year) occurred on 3/17/1762 in NYC and featured Irish soldiers fighting for Britain! 32.6 million persons or 10.1% of the US population, claim Irish ancestry, down from…

Based on the best data available, Coronavirus death rates are about 0.75% in both China (outside of Hubei Province where China was woefully ill prepared) and South Korea, where testing rates are high. With the number of deaths in the…

February’s net job growth was a shockingly strong 273,000, with upward revisions totaling 85,000 for December and January. Add an increase in the workweek and in pay of 0.3% each, and all looks well. But the survey only includes the…

The chances of a recession have meaningfully risen over the weekend and are now 50%. Driving the rise: an inevitable European recession, soaring Italian fatalities resulting in a rich western democracy locking down all of its population, and a sudden…

Oil prices are in freefall; down 50% since 1/1/20. Global demand, which historically annually grows by 1,000,000 bbl/day, is now expected to decline by 100,000 bbl/day in 2020. Making matters worse, because Russia and Saudi Arabia were unable to agree…

The Friday File: There have been a total of 24 James Bond movies, and six actors have been 007. In a recent poll, the most popular James Bond was Sean Connery with 26% of the vote. Daniel Craig was a…

Monetary policy becomes toothless as rates approach 0%, but fiscal policy can shine. The government can cheaply borrow to: increase unemployment benefits to those recently laid-off, offer paid sick-leave to those without it who have Covid-19, give zero-interest loans to…